PENGARUH KINERJA KEUANGAN DAN ARUS KAS OPERASI TERHADAP TINGKAT KESEHATAN KEUANGAN (Pada Perusahaan Manufaktur Subsektor Industri Otomotif Dan Komponen Yang Terdaftar di Bursa Efek Indonesia)

Abstract

This research aimed to examine the effect of financial performance (profitability, leverage), and operational cash flow on financial distress through financial statements that were published by the Automotive Industry and Component manufacturing companies in 2018-2021. The research was quantitative. Moreover, the population was Automotive Industry and Component manufacturing companies in 2018-2021 consisting of 9 companies. The data collection technique used purposive sampling, in which the sample was based on the criteria given. Furthermore, the data analysis technique used descriptive analysis and multiple linear regression with SPSS 25. The result showed that the classical assumption test was examined through the normality test, multicollinearity test, heteroscedasticity test, and autocorrelation test. Additionally, it also showed that all variables had fulfilled the classical assumption test and the proper model test (F-test) showed that the regression model was properly used. In addition, the hypothesis test (t-test) concluded that profitability (ROA) had a positive effect on financial distress. However, leverage (DAR) had a negative effect on financial distress. In contrast, operation cash flow did not affect the financial distress of the Automotive Industry and Component manufacturing companies.